Insurance carriers typically underwrite BOPs based on a process as shown in FIG. 1 to cover a business owner's real estate (if the business owner is the real property owner), personal property contents (whether owning or renting the premises) and general liability. The limits and premiums typically vary depending upon the carrier's underwriting model. Disadvantages of this approach include the customer having to walk through an application process to reach the price, which may be inefficient for the customer. The offering may be beyond the customer's needs, and the offering or the process difficult to understand.
A target market for property and casualty carriers is small (“micro”) businesses with 0-1 employees, who may or may not have prior insurance. Professional and personal services (for example hairdressers), consultants, real estate agents, and the like are examples of classes of business in which many micro businesses are found.